16:18 - 23.10.2026

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October 23, Fineko/abc.az. Fatih Birol, Executive Director of the International Energy Agency (IEA), stated that he is not optimistic about the global energy crisis normalizing by 2027, citing severe disruptions along major transit routes from Western Siberia and the Strait of Hormuz.

Birol proposed electrification as the central theme for the upcoming COP31 summit. The IEA aims to establish a global pledge to boost electricity’s share in total energy consumption from 23% to 35% by 2035.

This initiative is designed to strengthen global energy security, cut carbon emissions, and channel major investments into solar, wind, nuclear, and EV infrastructure.